Random Bar Exam Flashcards
(103 cards)
What is an easement by implication?
If the easement has been used continuously for a statutory period of time, openly, and it is reasonably necessary for enjoyment of land, it will be allowed to continue (think adverse possession for a easement)
What must be in a deed when it is created
Name of grantee!!
What can render a title unmarketable?
-if a future interest holder does not agree to transfer title,
- any mortgage, covenant, option, easement
-title acquired by adverse possession
-zoning ordinance violation.
What is exoneration
Allows beneficiary of devised real property to use the estate’s remaining assets to pay off any mortgage or debt
is physically handing over a deed required?
No, recording a deed= presumptive delivery to recipient
what type of tenancy requires equal shares
JOINT tenancy. If the conveyance says joint tenants with unequal shares–> Tenancy in common
What do you need for abandonment of a covenant
Requires an affirmative act- more than neglect or disuse- that shows clear intent to relinquish covenant. I.e knocking down a wall
If you assume a mortgage, who is liable on default
Both YOU and the original owner
Will a counter offer terminate an option contract?
NO- an option holder can make counter offer without losing right to exercise option
When a property is foreclosed and there are multiple mortgages, who has priority to get proceeds?
General rule= first in time but if recording act applies, apply it to mortgage. Purchase money mortgage has priority over all
Remedy for breach of equitable covenant
injunctive relief
Remedy for breach of covenant
MONEY
Requirements to create equitable covenant
- in writing
- intent
3.touch and concern - Notice
NO PRIVITY REQUIREMENT
For burden of covenant to run, what is required
- in writing
- intent to bind future owners
3.touch and concern- act the land - notice
- Vertical and HORIZONTAL PRIVITY
if transferring interest- must transfer entire fee simple estate
For benefit of covenant to run, what is required
Don’t need horizontal privity.
1. in writing
2. intent to bind
3. touch and concern
4. notice
5. vertical privity
if transferring interest- can transfer less than entire estate
When is an easement terminated
- abandonment- with affirmative act
- merger of estates
- BPV- if written easement was not recorded and they have no notice, easement is terminated
what is the servient estate
the one burdened- i.e the path to the road goes thru their land
what is the dominant estate
the estate that gets the benefit of the easement, the one that can use the path
3 types of notice
- actual
- inquiry- if reasonable inspection of land or chain of title would discover the person’s interest
- constructive notice- if the prior interest was properly recorded
who would have priority, a Bonafide purchaser for value or someone with adverse possession?
Adverse possession b/c they have NO duty to record
What is the shelter rule
If a bonafide purchaser for value sells property to another party, that party is treated as a bonafide purchaser for value as well- they claim shelter under the BPV even if they knew of prior interest in the land
What can recording acts apply to
Mortgages, leases, easements
who wins in a notice jurisdiction?
a person who buys land without notice of a prior interest- Bonafide purchaser for value w/o notice.
Who wins in race jurisdiction
first to record